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Flood Disaster Protection Act (FDPA) Policy

$175.00

The purpose of this Flood Disaster Protection Act (FDPA) Policy Template is address flood hazard insurance requirements issued under the National Flood Insurance Program (NFIP), which is administered primarily under the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act (FDPA) of 1973, National Flood Insurance Reform Act of 1994, Biggert-Waters Flood Insurance Reform Act of 2012, Homeowner Flood Insurance Affordability Act of 2014, and the Joint Release entitled “Agencies Issue Flood Insurance Rule” of a financial institution to ensure loans are protected against flood hazards.  See more information about this product below.

Description

Flood Disaster Protection Act Policy

The purpose of this Flood Disaster Protection Act Policy Template is address flood hazard insurance requirements issued under the National Flood Insurance Program (NFIP), which is administered primarily under the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act (FDPA) of 1973, National Flood Insurance Reform Act of 1994, Biggert-Waters Flood Insurance Reform Act of 2012, Homeowner Flood Insurance Affordability Act of 2014, and the Joint Release entitled “Agencies Issue Flood Insurance Rule” of a financial institution to ensure loans are protected against flood hazards.

Table of Contents

  • Purpose and Contents – Topic 1
  • Policy Statement – Topic 2
  • Definitions – Topic 3
  • Eligible and Ineligible Structures for Flood Insurance Under the NFIP – Topic 4
  • Flood Insurance Requirements – Topic 5
  • Table Funded Loans – Topic 6
  • Private Flood Insurance – Topic 7
  • Exemptions to the Purchase Requirement – Topic 8
  • Amount of Flood Insurance Requirement – Topic 9
  • Waiting Period – Topic 10
  • Second Mortgages and Home Equity Loans – Topic 11
  • Condominium Policies – Topic 12
  • Other Special Situations – Topic 13
  • Escrow Requirements – Topic 14
  • Standard Flood Hazard Determination Form – Topic 15
  • Reliance on Prior Determination – Topic 16
  • Force Placement Requirements – Topic 17
  • Determination of Fees – Topic 18
  • Regulation Z Applicability – Topic 19
  • Notice of Special Flood Hazards/Availability of Federal Disaster Relief – Topic 20
  • Notice to Servicer – Topic 21
  • Notice of the Administrator of FEMA – Topic 22
  • Notice of Option to Escrow – Topic 23
  • Penalties and Liabilities – Topic 24
  • Audit Policy – Topic 25
  • Staff Training – Topic 26
  • Retention of Documentation – Topic 27

Includes the following form templates:

  • Notice of Special Flood Hazards and Availability of Federal Disaster Relief Assistance (2 Pages)
  • Sample Clause for Option to Escrow Outstanding Loans (1 Page)

Recent updates to this product:
07/01/19 Update
Deletion of Guidance Prior to 07/01/19 Effective Date
03/04/19 Update
Interagency Final Rule Implements Flood Insurance Reform Provisions

This Flood Disaster Protection Act Policy Template (approximately 18 pages) is available to purchase from BankPolicies.com in Microsoft® Word format for $175.00.

Want to ensure your purchase from BankPolicies.com remains current? Add a Product Update Protection Plan to your shopping cart to ensure that you will automatically receive an updated version every time it is revised via e-mail within one year from the last date of purchase. This timely and cost-effective solution ensures that you stay on top of federal regulatory changes and industry recommended best practices.

When updates are made you will receive detailed information regarding why the product was updated and what has changed within the product in our Product Update Notification e-mail correspondence. This enables you to make an informed decision on whether to make any changes to the policy or procedure you implemented for your financial institution from the revised template.

BankPolicies.com provides your financial institution with the best bank policy template products available in the industry. You will always be up to date with the latest changes to bank policies and never have to worry about being out of compliance with the various laws, rules and regulations issued by the Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve, Office of the Comptroller of the Currency (OCC), or other federal regulatory bodies that may apply to your organization.

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